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tv   Boom Bust  RT  November 30, 2021 11:30pm-12:00am EST

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ah ah this is boom boss, the one business show you care the board a met, bridge the board, and i'm ready to learn and then washington coming at coil prices aren't thinking as the on the crime variant fears and infected markets across the globe. straight ahead. we'll discuss the movement in the sector. this end of the novel strain has been found even more nations as it is spread beyond it. south african oregon will bring you the latest figures with an expert in the field. and values tracked out on
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social media is taking a new turn as the nation has proposed. a lot of combat online for all. got a lot to get to go and we leave the program with another brutal day for markets with the dow dropping as much as 700 points. now the reverse from monday's rebound comes, as experts assess the latest coping 19 very and how to respond to it. while federal reserve chairman j pal, an treasury secretary, jenny jaelyn, also testified before congress on tuesday. paul sparked a sharp reaction from investors after he told the senate banking committee, that there is a chance that bed will speed up its plan to taper bond purchases by more than $15000000000.00 per month in the months to come. but at this point, the economy is very strong and inflationary pressures are high, and it is therefore appropriate in my view to consider wrapping up the paper of our asset purchases, which we actually announced at the november meeting perhaps a few months sooner. and i expect that we will discuss that at our upcoming meeting
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in a couple of weeks, of course, between now and then we will see another labor market report, another inflation report. and we'll also get a better sense of, of the new the new coven variant. as well before that before we make that decision . now, meanwhile, the oil industry has also taken a hit both west texas intermediate and brent crude features saw drop a 4 percent on tuesday that mark their worst monthly decline since march 20. 20 countless questions remain as to how the world will react to the new variance and whether it will lead to major locked down. so we'll have a significant impact on both demand and the ongoing recovery journey discuss the latest is david towel, president, approaching capital. david, it's great to have you on the show today. now, what is your take on the drop that we're seeing in oil prices? i mean, comparing it to march 20. 20 raises a lot of concerns. right? certainly if it's going to mirror the severity of march 2020,
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and certainly there should be cause for major concern. on the other hand, it seems like the hama kron variant is not going to be as co. and as people may have feared, it may spread widely, and therefore may lead to some, i'd say speed bump in, in what has been going on in the economy. and in terms of inflation and let's get back inflation in a minute or 2. but i think that, you know, therefore this, this debt is going to be short lived. i think that there's going to be a little bit of pullback in terms of travel and allowance for that. and you know, it'll have a little bit of an impact on trade because of that. but at the end of the day, i think this is just something that we're gonna have to go ahead and get used to that. we're going to see the variance pop up every once awhile. same way that there are different strings of the flu. every winter, i am not a medical practitioner nor am i a scientist. but at this point, that's what i'd say. you know, the, the reporting has let us to believe. well, had,
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it seemed like, you know, in the recent months that demand was actually picking up and oil prices were rising, which gave way to rise and gas prices. here in the united states. it seems like people were begging for some sort of a proven oil prices. and that is kind of what we got, but this is the theme under the circumstances that they want to correct. oh absolutely. i think that the. busy the more important that substantive story that's going to take over very quickly from this, you know, reprieve is going to be the release of the, the petroleum reserves in the united states, which is not going to make a dent at all. biden's continued call for opec nations. go ahead and increase production. they now have actually a great reason to go ahead and not change their production at all. and we will,
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we will then quickly shift into what i think is an alarming concern by politicians and by regulators in this country regarding inflationary pressures. right, and i know we've talked a lot about inflation, a lot about those rising prices. and even with the latest concerns about demand, there are still predictions out there that oil is headed for $100.00 a barrel. and j. p. morgan is even predicting $150.00 per barrel by 2023. so how much influences opec plus have here in good, we see oil prices getting to that point. i think 150 is a big number. and certainly if you believe that is caused for a real rebalancing of a portfolio overall. but in terms of, you know, triple digit prices, and there being a real issue between opec and those nations around the world that are very reliant on oil. it is a very,
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it's going to be an increasingly important issue. it will be increasingly tense. and to echo some words out of some investors that were made a couple weeks ago, you know, the, the, the, the possibility for social unrest that may come from a seizure in these markets is certainly a possibility. i certainly don't think that there is anyone that hoping that we get there. but this is we're at a critical juncture. and rachel, it's important to point out. this problem is not going. busy away, this is another 5 to 10 year problem, right? we're not going to get to the maximum demand for oil for a while now. until really we can go ahead and fully rely on renewables and begin to watch, you know, that peak demand in the rear view mirror. so we as a country of chosen to limit oil production,
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we're going to be increasingly relying on other nations for their oil. and so therefore, there is going to be cause for concern regarding a prices and therefore inflationary pressures, but also political tension as well. and david, i know, you know, obviously we were talking about oil here, but you mentioned it several times about the inflation as a whole here that we are seeing in the united states. obviously, as we talked about there in the intro, jap, how and treasury secretary yell and both were on the hill today, talking about inflation, talking about the response to cobra, 1900 and all of that. i mean, what do you make of, you know, as we look at inflation as a whole, now, you know, how is actually backing up and saying, hey, when i said it was transitory, we kind of have to retire that language. what do you make of that? they're frightened, they, they certainly are. this is a big political issue. we're going into an election cycle and you know, 2 years that is going to be really important that could very well be driven. you
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know, at the top is the highest of lined by pricing on everything. i mean there are no workers. we certainly so people are companies are bidding other companies for their workers. so paying higher. busy and higher prices, housing has gone to the moon. in some cities, even rentals have gone crazy. and even in cities that you think like new york city where you know, the argument is maybe if there is concern about the variance of cov id, you know, most people are not going to want to be in the city and we're seeing, you know, housing prices are rentals go up 30 percent, you know, and it's just, it's, it's super fine at this point. and i don't think that there's any way to go ahead and slow this down and with the supply chain break down. and you know, who knows when that's going to go ahead and get fully resolved. there's going to be
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additional pressure because of supply constraints. yeah, certainly a lot of stay care and it's interesting to see power. finally catching up with the rest of us on realizing that inflation isn't transitory david tell approaching capital. thank you so much for your time and insight. thank you. bye. and as the alma kron variant has rattled global markets in recent days, the head of the biotech for madonna is now predicting that current cobra vaccines will be less effective at dealing with the new strain of the virus. when you're no ceo, stephan banfield told the financial times, quote, there is no world where the effectiveness is the same level of what we had with the delta variance. adding that while vaccine makers are still waiting for the opportunity to analyze the latest data with the rapid spread of the variant in south africa, scientists are telling him that this is not going to be good. now, in response to the latest very being detected in a number of countries across the globe, the world health organization described the risk level as being very high and urged
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member states to speed up vaccination and high priority groups. as we have mentioned on this show, some countries including the united states, have enacted international travel restriction, in hopes of stopping the spread of this late. it's very so we want to get a little more information on, on the crime. and to do so, let's bring in doctor williams after a vaccine specialist with vanderbilt university medical center. always a pleasure to have you on doctor shafter i want to start with the very here. what do we know at this point? do health officials really know how bad this could be? of brent we don't really know. we know that this virus in the laboratory as a whole string of mutations. some of these mutations suggest that this virus is going to be very transmissible, at least as transmissible, as delta, if you can imagine, and maybe even more so, then there are some other mutations that suggest it can evade the protection,
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at least in part of our current vaccines, that's probably question number one on most people's minds. it will take us a couple of 3 weeks to get fuller answers to those questions. but that's why the w way joe has labeled it a variant of concern, not just a variant of interest. now, dr. schaffner, i know that we had this comment for the theo of modernity. got a very big reaction from the markets. but is it alarming to you, considering we really don't have all the data on this new marion? yeah, i don't like to make vaccine policy by press release, but certainly i think we need more data to securely defined the characteristics of this virus. and remember, i haven't heard anybody else say a neither has the, has, has the ceo of the madonna say that it will. our vaccines will be completely
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ineffective. there's going to be some reduction. but partial protection is always better than no protection at all. and let's remember, take a deep breath. what's out there now in every community in the united states, is not up our coven mutant here, but is actually delta the virus against which our vaccines do work. and we have such a large proportion of our population still on vaccinated adults, children, and many who need the booster. so as we think about all micron, let's protect ourselves against delta now. and we think those high levels of anybody achieved through vaccination actually will help us get protected against oma crump and, and doctors after i know, i feel like every time we have you on i, i apologize for having to do that. those every single time it feels like it's this, this is going to be the new normal. we're going to be in this position where we're
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going to be wearing masks every where we go. we're going to have to social distance . we're always going to have to get boosters. i mean, when the we have a new variate that seems to cause so much alarm. i mean, is there any light at the end of the tunnel? will the light at the end of the tunnel? i think is somewhat distant, you know, every variant that's come here has started over there. it started somewhere else in the world and is only a plane right away. so as we think about controlling the pandemic, it's not just in the united states, it's around the world. we have 2 reasons for that. our humanitarian reason, of course, we want of spare as many deaths around the world as possible, but also self interest. we want to suppress this virus around the world, so that new variance don't arise and then come here. we're going to have to live with cove it. henceforth, we live with flu. we can live with cove,
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it there likely will be periodic boosters. and yes, from time to time, the masks will go on and social distancing will occur, particularly among the older persons, and anybody with underlying illness, who's fragile more susceptible to severe disease. now, when it comes to really the broad handling of the sand mc overall, it was pointed out last week that according to johns hopkins university, death from coven 18 in the us. this year had actually surpassed the number of deaths in 2020, even with the vaccination push. how do they see that this is happened? well, it happened because of one word, delta. all of a sudden delta came up on the scene in the middle of the summer and out ran all of those other variants that were out there. and because of it's contagious, it's simply reached more people got down into young adults down into children also
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. and so it actually had a very comprehensive effect. now, how serious this oma cron variant is. that remains to be determined, but we have protection against delta, and we have not optimally utilized it. 60000000 adults still haven't received dose one. i don't get it, but i'm just the country doctor. it escapes me. if it escaped doctor william shafter that must escape me as well. august after of the vanderbilt medical center . thank you so much for your insight as always kind of talking. it's off of the clip if you can. thanks so much. and i'm now for a quick break when we come back, australia saga with social media could soon see another turn as trolls are now in the spotlight. and as we go to break, here are the numbers at the closing with
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long went out, so seemed wrong. when i'll prove, just don't move, you will to shape out an engagement. it was the trail. when so many find themselves worlds of horn, we choose to look for common ground, a tool that was found your eyes and your post,
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yet that it would stop you from having real friends and funding and go friend. but what they fail to mention is that you can make thousands of dollars every weekend by simply playing video games with a couple of them for the we formed the solution that was sleep will continue to little. it was originally it was president. ok much more to do so please don't don't. of course to make video games a high paying job. you have to be gifted and quick witted, a good life to close to nathan fitness to listen. you're brought in. miss thompson, with webpage bentley up with buck even started yet. glove voice. well, you most told me i'm of is do it out or you mean it, was it mules? good guy of the owner. but i would that be cool with with odd to do i also use a
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welcome back. australia is taking on online trolls with new legislation that will soon be introduced. that legislation will also take a look at the extent of responsibility for big tech platforms, such as twitter and facebook for defamatory material published on their site. now you may remember that australia's highest court has already ruled that publishers can be held liable for public comments on online forums. a ruling that is caused some news companies like cnn to deny australians access to their facebook pages about these proposed new laws. prime minister, scott wilson, bigots and trolls and others are anonymously going around and can harm people. so what will this new set of laws attempt to actually accomplish? let's bring it back. so it's an investigative journalist, ben swan well to try to explain at least ben, how are these new laws going to impact online commenting, which we know so many people really rely on to get all their frustration out there
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. well, they do rely on it and listen. it's kind of interesting because this law, which obviously we don't know the text of it because it hasn't been officially released yet. seems so far to be extremely vague. we're not exactly sure what this consists of. so here's how it would work. if someone posts something online, especially in a common section that is deemed to be defamatory in some way, right? the person about whom it's written has a right to approach that social media company, whether it be facebook, twitter, and then request that that content be removed under this law. facebook and twitter would have to comply because someone feels or being the thing that doesn't require necessarily or explain, i should say what the level of proof of defamation is. instead, if someone just feels this way, it appears of the social media company would have to take it down. what's also interesting about this is that if the company does not take it down, then there's a legal court process under which the person who feels are being the same,
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would be able to have the identity of whoever wrote this information reveal. and that's another thing we don't know about how much data is released with that. what kind of information goes into that? none of that's been spelled out so far. and so because of that, the whole thing seems kind of a work in progress would be a nice way of saying it. yeah, definitely more questions and answers there. and also of course questions about what is defined as a troll. i mean, they use kind of broad term, but at the same time it also makes you wonder, could that just be someone who was being critical of what you posted. and then there's also a question of the fact that when it comes to this new proposed law, how does this impact the high court ruling we just mentioned? we're a new publisher is also considered the publisher of defamatory comments on their post. yeah, well that's, that's one of the big questions, right? because of the fact that the high court in australia has already ruled and said, look, if you post on cnn's, you know, a story and post a comment that defend someone in berry c. and is responsible for that, right?
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because they allow you to post it and they are now publishing your comment as you mentioned and lead up here. so seen and now says, well, we just don't allow australians to post on comments on here because we're not going to take the fall for what somebody else said, that's the natural business response to this kind of a law. what's interesting about this new one though, is we don't really know how this would play out other than to say that social media companies, it kind of kills their business. if people can't talk about other people, what does it mean to feign them? right? but defamation is a very specific legal term. the way defamation works is it requires that you are making a statement knowingly false about someone else. that's the 1st part and that you have the power to actually cause harm to them. so just the average person saying something about someone else does not necessarily have the power to change anything or to, to affect them. and that was the last thing i'd say about that is what's interesting is this law doesn't seem to necessarily include those who do have power. so for instance, facebook fact checkers when they say that
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a journalist or somebody is not telling the truth, is that considered defamation, which they have to. and that's true. those fact checkers are, or is this only apply to the average person who's posting? again, don't know the answer to that question because you have to wonder how far this goes . because if i go and post on a ben swan post and i say, you know, he's not as handsome as he thinks he is. i just wonder, is that a me that defaming been or is it just a lot? yes, boom. but both right. and the question is, are you harming me in some ways? interesting. this got morrison. the prime minister use the term of the can't be the wild west where people are, you know, going around these, he called them big it said boss going around and harming the question is, what is the does harm and that's again a legal term. what is the harm that is done when brings your voice says, i know i'm better looking at the internet agrees that doesn't necessarily harm me. maybe my ego. but is it actually hard my life? no, it doesn't actually harm. i know a little bit. it would boom. bust bang, so much. all right, and finally, long before i'm
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a crown was the latest variant of code. 19. it was just another letter in the greek alphabet, and it was also the name of the crypto currency has the right. all of the publicity sent the token on quite the roller coaster this week. it was worth just $65.00 on thursday, then shot up to $688.00 on monday morning before then falling 75 percent. so joining us now to discuss the latest coast, christy i now, christy, what do we know about this crypto currency? yeah, we know, it's just the fact that it was a complete flute that the crypt 1st had the name on the crown was the rather obscure and crypt currency when the twitter feed had a little more than a 1000 active followers. now the crypto currency, which is picker o m, i see that the be centralized treasury back crypto currency protocol. and according to coin market cap, it started trading on november 8th without a traditional eye seo or idea, or any sort of pre sale. and the point of this crypto is to eventually function as
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a global unit of account, a medium of exchange currency. and it was actually a for off of the olympics on the arbitrage network. and the team is primarily anonymous, like most dowser decentralized atomic bodies these days. and obviously, christie, the google searches for the word autocrat. we're skyrocketing over the last few days as this all this news broke. so how does it actually translate into interest into a crypto currency? well, the same thing actually happened with ave, a few months back that we talked about all day is one of the top 50 criptos. but interesting sort of very suddenly, one day because the hash tag was trending on twitter. and because the crypto markets are now like the equity markets in that there are a lot of bots and i'll goes that pick up on these keywords and hash tags on twitter and google read it. but unfortunately, these spots are not that smart and cannot differentiate the context of these hashtags. so in always case, that hash, i was trying the on twitter because it stood for african american vernacular,
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english and people were talking about that. but the boss interpreted, ave decline. and then went and started buying spree and pumping the coin up, thinking that there was high interest and bullish sentiment behind that name and all the very same things seem to have happened to o. m i c. and i'm very sure some savvy traders jumped onto the mean as soon as they fall, a lot of the bots mistakenly pick up on that name. so usually the owners of these are their quick to realize their mistake and they reversed that trade. but in, on my case, retail mean traders started adding fuel to the fire, and the rally lasted more than a few days before, eventually crushing back down. so interest really died because literally no one knew what they were trading. they didn't know what omi called the crypto does, and what it's function is who built it. there's actually no literature even published about it. so it was literally a mean that flew up because the boss picked it up by accident. christie, i'm sorry to yes or no you hear because i know you're very savvy crypto enthusiast analysts. the question is, did you know about this before today?
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unfortunately, no. you learned about it with all of this is the most alert thing ever. would coin is we will keep calling this one to see where it goes, because the i thank you so much for your time. thank you. and that's it for this i, because robots are demand on the portable tv app available at smartphones, tablets, google by the apple app store by searching portable tv, portable tv can also be downloaded on samsung smart tv, then roku devices or simply check affordable dot tv. we'll see you next time . ah ah ah
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ah, ah ah ah, ah, a a a warm drugs noted as a way to combat a gray problem. what's the warranty? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected to this time,
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the fight against drugs still good to jake. he told us that andrew was competent, short form. this is way too dangerous for him to be doing. clearly they put him in harm's way. a rural college student does interest get shot in the head and found in a river like that. something else had to be happening from supporters and conservative media, spare no energy, dallas democrats are going to bar there to the left is like really true. let majority of all voters saving support, universal, pre take free community college and low drug prices. so is going to far left really about the culture wars. mm. the postal service delivers a $155000000000.00 pieces of mail every year. approximately 40 percent of the
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world's mail right now the us postal service is in the flight of its life, facilitating the disruption bad financial shape. now facing default, the postal service is a cash cow and there was a way to pull money out of the postal service to put into a federal budget. there was a mandate that you bring in a $100000.00, new revenue every month. the nature of privatization in the us postal service is very much hidden from public view. it's privatization from the inside out. that's a big business in money about the public and given the service that the design is not about the quality of trade warfare. it's about the mime. a
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deadlines and r t is the only tron infection spreads around the globe, the international community debates, the best strategy to fight it with me. restrictions coming in to for also this our high school shooting in michigan leaves 3 students dead and 8 people injured. a 15 year old is under arrest and growing phase, which with his future is a beacon of free speech is the online giant gets a new boss who's passed. comments have already got people worried, and barbados stitches the brief one, the key to become the world news independent republic. we'll discuss the implications live later in the book. ah.

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